USPS OIG Report: Financial Controls Policy for Retail Units

Background During fiscal year (FY) 2019, we issued 32 audit reports related to financial controls at Postal Service retail units. We identified inconsistencies with Postal Service policies for performing financial transactions. The purpose of this report is to bring attention to these issues and make recommendations for corrective action. Our objective was to assess current…

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USPS CFO reviews first-quarter financial results

Chief Financial Officer Joe Corbett reviews the Postal Service’s latest financial results in a “Dollars and Change” video released this week. During fiscal year 2020’s first quarter (Oct. 1-Dec. 31, 2019), USPS recorded total revenue of $19.4 billion and total operating expenses of $20.1 billion, leaving the organization with a net loss of $748 million….

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USPS OIG Shutdown Plan – FY 2020

Brief summary of significant agency activities that will continue during a lapse: The United States Postal Service does not cease operations during any Federal lapse in appropriations as it is funded through a permanent no-year appropriation. In contrast, the U.S. Postal Service Office of Inspector General (OIG) receives an annual appropriation which is derived from…

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